Zacks Research Downgrades Brookfield (NYSE:BN) to Strong Sell

Brookfield (NYSE:BN) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts have also commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a report on Monday. CIBC restated an “outperform” rating and issued a $52.00 target price (up previously from $50.67) on shares of Brookfield in a research note on Friday, November 14th. Royal Bank Of Canada lifted their target price on Brookfield from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. TD Securities increased their price target on shares of Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, Wall Street Zen lowered shares of Brookfield from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.47.

Brookfield Price Performance

BN opened at $45.64 on Thursday. The firm has a 50-day moving average price of $45.56 and a 200-day moving average price of $43.89. Brookfield has a twelve month low of $29.07 and a twelve month high of $49.47. The company has a quick ratio of 1.19, a current ratio of 1.31 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $112.99 billion, a price-to-earnings ratio of 126.76 and a beta of 1.57.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, November 13th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Equities analysts expect that Brookfield will post 3.85 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hilltop National Bank bought a new stake in Brookfield during the second quarter valued at approximately $30,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Brookfield during the 2nd quarter valued at $32,000. Ameritas Advisory Services LLC bought a new stake in shares of Brookfield during the 2nd quarter worth $33,000. Cary Street Partners Investment Advisory LLC grew its position in Brookfield by 109.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after acquiring an additional 330 shares in the last quarter. Finally, First Horizon Corp bought a new position in Brookfield in the third quarter valued at $40,000. 61.60% of the stock is currently owned by institutional investors.

About Brookfield

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.